LORDSTOWN, Ohio (WKBN) – An investment deal worth more than $500 million in Lordstown is nearing finalization.
The Trumbull County Planning Commission expects to finalize that deal with Clean Energy Future in just a few days, with some adjustments. On Wednesday, Trumbull County Commissioners approved an amended Enterprise Zone Agreement with the company, changing the number of full-time employees from 26 to 19 and reducing the payroll to $1.67 million.
“We sort of scrambled at the end to get an agreement together, but we did that today. We finalized it, and we’re happy to move forward with it,” said Trumbull County Commissioner Mauro Cantalamessa.
The Massachusetts-based company purchased more than 150 acres off state Route 45, north of the GM Complex. The facility would burn low-cost natural gas to create electricity, and agreements are in place for Niles and Warren to provide wastewater service to the facility.
Julie Edwards, economic development coordinator with the Trumbull County Planning Commission, said the county offered the Clean Energy Future a tax abatement on its real and personal property taxes in conjunction with job creation, as an incentive to lure the company to Lordstown.
County officials say the deal is set to close this Friday, and that is why it was so important to pass the amendments at the Commissioners’ meeting.
“There was some different parts of it — the consent agreement — that we had to work out. We did that this week. The Village of Lordstown voted on it to finalize it today,” Cantalamessa said.
In addition to those 19 full-time jobs once the plant is up and running, the company expects to pay hundreds of construction workers during the two or so years it will take to build it.
“We worked out the details with our Planning Commission, the developer, and everybody is in accordance with it, so obviously it’s going to be a boost to this economy, to Lordstown, but also Trumbull County,” Cantalamessa said.
After the deal is finalized, groundbreaking and construction on the facility will begin.